This study investigated the tribological behaviour of Pongamia oil (PO) and 15W–40 mineral engine oil (MO) with and without the addition of graphene nanoplatelets (GNPs). The friction and wear characteristics were evaluated in four-ball anti-wear tests according to the ASTM D4172 standard. The morphology of worn surfaces and the lubrication mechanism of GNPs were investigated via SEM and EDS. This study also focuses on the tribological effect of GNP concentration at various concentrations. The addition of 0.05 wt % GNPs in PO and MO exhibits the lowest friction and wear with 17.5% and 12.24% friction reduction, respectively, and 11.96% and 5.14% wear reduction, respectively. Through SEM and EDS surface analysis, the surface enhancement on the worn surface by the polishing effect of GNPs was confirmed. The deposition of GNPs on the friction surface and the formation of a protective film prevent the interacting surfaces from rubbing, resulting in friction and wear reduction.